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International Student Loans without Co-signers


When I was looking into going to business schools one of my biggest challenge was to look for funding to pay the tuition. The cost of tuition for one year in most business schools is $ 50,000 and above. For many coming up with this kind of money is an issue especially for someone like me who is from a third world country. The good news is that there are ways for funding for business schools and that is through scholarships, grants and fellowships. There are the lucky few with whom their employers foots the bill for tuition. For the rest of the international students they have to look for more funds as the scholarships don't cover the bulk of the tuition and you also have to factor in living expenses for a year which could be around $ 16,000 to $ 20,000 depending on where you are going to study and live.

 

The next option apart from quitting is for sourcing for private loans. One could choose to go their home country and borrow from their banks. If you are like me, that is difficult option as the lending rates here are a nightmare and when I am done paying the loan it would be 4 or 5 times the figure. That leads to most people looking into borrowing from banks in the US for the tuition. From my experience so far, there are lending institutions that are willing to lend to international students but they have to have a credit worthy co-signer. This is a problem as there are very few people who have co-signers and are willing to help with this challenge.

 

There are business schools that realise this problem and are willing to act as the co-signer for their students. This is great news for those of us who don't have co-signers and are looking to get funding through loans. Here is a list of schools that I have seen so far that have this provision for their international students:
  • Harvard Business School
  • Stanford Graduate School of Business
  • The Wharton school of the University of Pennsylvania
  • Kellogg School of Management- Northwestern University
  • MIT Sloan School of Management
  • Haas School of Business, University of California Berkeley
  • Tuck school of business
  • NYU Stern
  • Duke University's FUQUA School of Business
  • The University of Chicago Booth School of Business
  • Yale School of Management
  • Dartmouth College: Tuck
  • UCLA: Anderson
  • Cornell University: Johnson
  • University of North Carolina: Kenan-Flagler
  • Emory University: Goizueta
  • Washington University: Olin

 

European Business Schools
  • London Business School
  • INSEAD, France
  • IE Business School
  • IESE Business School, University of Navarra, Spain
  • Indian School of Business, India

 


 


 


 


 


 

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